Pending Sales Reach 11 Year High in Florida Real Estate. In the Sarasota Area, Pending Sales also set records. I expect strong sales for the next 2-3 months, as we historically have seen. Closed Sales in March were up between +26.3 % to +42.1% over the previous month in Manatee, Sarasota, and Charlotte Counties.
But there is a catch for Sellers. See what it is next…….
With a strong market, Sellers are pricing their properties higher, but the Buyers are resisting the price, so we are seeing many more Low Ball Offers presented. Consequently, many Sellers without Offers are lowering their asking price to attract Buyers, who are active in the market.
Now the three County News …….
In Sarasota County. The Closed Sales increased +36.1% over the previous month. New Listing increased slightly +3.4% and the Inventory Level decreased -2.3% to 6.3 months of Inventory. Remember 6 months of Inventory is considered a Normal “Balanced” Market. Property Appreciation decreased -1.2% from the previous year. First time we have seen a negative number in Sarasota County for a while. Days on Market was 78 Days. Sold Price to List Price was 93.5%.
Manatee County. The Closed Sales increased +42.1% over the previous month. New Listings increased +2.8% and the Inventory Level decreased -3.5% to 4.9 months of Inventory. Property Appreciation increased +7.1% from the previous year. Days on Market was 77 Days. Sold Price to List Price was 94.2%.
Charlotte County. The Closed Sales increased +26.3% over the previous month. New Listings increased +2.0% and Inventory Level decreased -3.5% to 6 months of Inventory. Property Appreciation increased +2.4% over the previous year. Days on Market was 74 Days. Sold Price to List Price was 93.1%.
Look at the graphics with the Real Estate Activity by County in Manatee, Sarasota & Charlotte Counties. Still very attractive Single-Family Home & Condominium Pricing and Great Interest Rates!
Interest Rates for a 30-year mortgage with 20% down (Single Family Home):
$100,000 for 30 years at 4.375% costs $499.00 per month.
$200,000 for 30 years at 4.375% costs $999.00 per month.
$300,000 for 30 years at 4.250% costs $1,475.00 per month.
Different types of Loan Products are available including:
• FHA 100%
• Bank Statement Program for Self Employed
• FHA 96.5% – Down to 580 Credit Score
• USDA 100% Loans – 620 Credit Score
• VA – 100% Financing
• FHA Streamline Refinance
• W-2 Only Program
• Condo Financing
• International Buyer Financing
Each person qualifies for a loan differently and your interest rate could be different. APR is not quoted, but available. Different programs are available with low down payments. Call me to see what your rate is.
Still Low Housing Prices & Great Interest Rates! What are you waiting for?
We can help you with an REO/Bank Owned, Short Sale, Normal Sale or New Home Sale. Don’t miss your opportunity!
Call Kym at (941) 400-9420 or Helen at (941) 400-9489 to help you find Your Florida Lifestyle!
Published on 2019-04-25 11:49:12
